In the February 1-25 period, Nio was at 5,100, Xpeng at 3,000, Li Auto at 16,200, BYD at 81,000 and Tesla at 24,300.
Most of the major automakers saw their electric vehicle (EV) insurance registrations in China rebound last week, as the Chinese population returned to work from the Lunar New Year holiday.
For the week of February 19-25, Nio (NYSE: NIO) saw 2,300 insurance registrations of its vehicles in China, according to figures shared today by its local peer Li Auto (NASDAQ: LI).
Li Auto has routinely shared these numbers on Tuesday afternoons since May 2023.
February 10-17 is the Chinese New Year holiday, which created a major disruption to car deliveries at the beginning of this month. Last year the holiday was January 21-27, 2023.
During the two weeks in which the holiday fell -- February 5-18 -- EV insurance registrations were significantly lower for the major car companies, with Nio at 1,500 units.
During the February 1-25 period, Nio had 5,100 insurance registrations.
Nio delivered 10,055 vehicles in January, up 18.21 percent from 8,506 a year ago, but down 44.18 percent from 18,012 in December.
Nio currently sells the ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring, the first five of which are SUVs and the last three are sedans.
The company announced on January 17 that it would begin deliveries of 2024 models in early March, with discounts available for the purchase of the 2,023 models.
On February 22, Nio began accepting customer orders for its 2024 models, except for the ET7 sedan, which will be updated slightly later.
Deliveries of the updated ES8, EC7, ES6, EC6, and ET5 Touring will begin in March, the ET5 in April, and the ES7 in May, according to a statement from Nio last week.
The 2024 ET7 will be released and begin taking orders in April, Nio said.
Nio will report unaudited financial results for the fourth quarter and full year 2023 on Tuesday, March 5, before the US stock market opens. It delivered 50,045 vehicles in the fourth quarter, exceeding the upper end of its previous guidance range of 47,000 to 49,000 vehicles.
Xpeng (NYSE: XPEV) had 1,200 insurance registrations last week, up from the 1,000 it had from February 5-18, according to figures shared today by Li Auto.
For the February 1-25 period, Xpeng had 3,000 insurance registrations.
Xpeng delivered 8,250 vehicles in January, up 58.11 percent year-on-year but down 58.99 percent from December.
Xpeng announced on January 26 that it started an upgrade project at its Zhaoqing plant in Guangdong province, which would last about 20 days, with overall production line commissioning completed by the end of February.
Xpeng will release its unaudited fourth quarter and fiscal 2023 reports on Tuesday, March 19, before the US market opens. It delivered a record 60,158 vehicles in the fourth quarter, within its previous guidance range of 59,500 to 63,500 vehicles.
During the week of February 19-25, Li Auto had 6,200 insurance registrations, lower than the 7,000 it had during the two-week period of February 5-18, placing it second among the new car makers.
For the February 1-25 period, Li Auto had 16,200 insurance registrations.
Li Auto guided for first-quarter deliveries to be between 100,000 and 103,000 units, up 90.2 percent to 95.9 percent from the first quarter of 2023, in its fourth quarter 2023 earnings report released yesterday.
The guidance implies that Li Auto expects its combined deliveries in February and March to be in the range of 68,835 to 71,835 units, considering that it delivered 31,165 vehicles in January.
Huawei-backed Aito topped the list shared by Li Auto with 7,200 insurance registrations last week, up from 5,500 in the February 5-18 period.
Between February 1-25, Aito had 17,000 insurance registrations.
Aito delivered a record 32,973 vehicles in January, with 24 days in the month seeing single-day deliveries of more than 1,000 units, it previously said.
On September 12, 2023, Huawei launched the refreshed Aito M7, allowing for a significant price reduction while allowing for upgraded features. The move led to a flood of orders for the new M7, making capacity a bottleneck for deliveries.
Since its launch in September 2023, the new Aito M7 had accumulated more than 140,000 firm orders, the brand said on February 1.
Tesla (NASDAQ: TSLA) vehicles saw 10,800 insurance registrations in China in the week of February 19-25, up from 8,200 in the February 5-18 period.
For the February 1-25 period, Tesla had that number at 24,300 units.
Tesla sold 71,447 China-made vehicles in January, including 39,881 sold in China and 31,566 exported from its Shanghai factory, according to the China Passenger Car Association (CPCA).
Tesla has a factory in Shanghai that produces the Model 3 sedan and Model Y crossover, and with a current annual production capacity of more than 950,000 vehicles, Tesla's largest in the world.
Tesla cut the prices of the Model 3 and Model Y in China on January 12.
BYD (OTCMKTS: BYDDF) brand vehicle had 31,600 insurance registrations for the week of February 19-25, slightly up from 30,600 for the February 5-18 period.
For the February 1-25 period, the BYD brand had that figure at 81,000 units.
BYD, including its other sub-brands, sold 201,493 new energy vehicles (NEVs) in January, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs). That was up 33.14 percent year-on-year, but down 40.92 percent from December.
BYD launched lower-priced Glory variants for the Qin Plus, Chaser 05, and Dolphin last week, and will launch updated versions for the Han and Tang on February 28.
BYD's initial plan for its 2024 sales target is 4 million units, local media outlet 36k reported on February 26.
BYD's premium brand Denza had 1,300 insurance registrations in the week of February 19-25, up from 1,100 in the February 5-18 period.
Denza sold 9,068 units in January, up 98.75 percent year-on-year while 23.98 percent lower than in December.
Zeekr had 2,000 insurance registrations for the week of February 19-25, up from 1,700 for February 5-18.
Leapmotor had 1,300 insurance registrations for the week of February 19-25, down from 1,600 for the February 5-18 two-week period.
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February 27, 2024 at 03:18PM
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China EV insurance registrations for week ending Feb 25: Nio 2300, Xpeng 1200, Li Auto 6200, Tesla 10800 - CnEVPost
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